This note documents the lessons learned in 2002 under the Action Research Programme of MicroSave. Evoking thoughts on market led microfinance, the note focuses on responsiveness towards clients concerns as a key to profitability. It also discusses the importance of strategic marketing, corporate branding, marketing audits, proactive risk analysis and management, and organising rolling out of products. The note recommends the MFIs to learn from the formal financial sector, build a strong management team, testing the product with existing MIS before its roll out, good product costing, strong financial projections, and developing strategic collaborations to improve efficiency in serving the clients.